It depends on the quality and value of the older piano and how much it would cost to rebuild it. The complete rebuilding of a grand piano can cost from $15,000 to $40,000 (sometimes even more). Obviously, this is only worth doing to a piano of the highest quality, such as a Steinway, Mason & Hamlin, or some of the top European makes. For lesser pianos, however, sometimes partial rebuilding or reconditioning at a much lower cost can make sense. This is something that must be determined on a case-by-case basis through consultation with piano technicians and rebuilders. Note that if your piano is a cheap one that has serious problems, in most cases you would clearly be better off buying a new one. Please read more about piano restoration in “Buying a Used or Rebuilt Piano,” in the article “Should I Have My Piano Rebuilt?,” or in The Piano Book, by Larry Fine.
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